Devon Energy Corp Gets a Buy Rating from BMO Capital

By Austin Angelo

In a report released yesterday, Daniel Boyd from BMO Capital reiterated a Buy rating on Devon Energy Corp (NYSE: DVN), with a price target of $42. The company’s shares opened today at $30.31, close to its 52-week low of $29.89.

According to TipRanks.com, Boyd is a 4-star analyst with an average return of 6.0% and a 56.5% success rate. Boyd covers the Basic Materials sector, focusing on stocks such as Diamond Offshore Drilling, Oil States International, and Rice Midstream Partners.

Currently, the analyst consensus on Devon Energy Corp is Strong Buy and the average price target is $53.38, representing a 76.1% upside.

In a report issued on June 6, Stifel Nicolaus also maintained a Buy rating on the stock with a $74 price target.

Devon Energy Corp’s market cap is currently $15.86B and has a P/E ratio of 54.62. The company has a book value ratio of 2.4527.

Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock. Most recently, in April 2017, Robert Mosbacher, a Director at DVN sold 800 shares for a total of $31,344.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Devon Energy Corp. engages in the exploration, development, and production of oil, natural gas and natural gas liquids. It operates through the following geographical segments: U.S., Canada, and EnLink. It develops and operates Delaware Basin; Eagle Ford; Heavy Oil; Baarnett Shale; STACK; Rockies Oil; Marketing and Midstream; and Contractors, Suppliers, and Vendors. The company was founded by J. Larry Nichols and John W. Nichols in 1971 and is headquartered in Oklahoma City, OK.,000HJ2-E